Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
Interpretation
Investing in quality items at a discounted price is a smart financial strategy.
Warren Buffett, known for his investment wisdom, suggests that whether purchasing something trivial like socks or significant like stocks, the principle remains the same: it is wise to seek high-quality products that are available at a lower price. This reflects a broader lesson in personal finance where quality and value should drive purchasing decisions, rather than superficial aspects.
In practice
This quote could be used in a financial literacy workshop to emphasize the importance of investing wisely.
I have no views as to where it will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot - and it's a lot - it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.
If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?
Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. _x000D_ You need to fill your mind with various competing thoughts and decide which make sense.
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.
Greatness is a road leading towards the unknown.
The most successful people in this world recognize that taking chances to get what they want is much more productive than sitting around being too scared to take a shot.
If you're crazy enough to do what you love for a living, then you're bound to create a life that matters.
If you look historically, what creates growth and wealth is innovation and investment, and increase in scale - more customers.
The secret of success is to find a need and fill it, to find a hurt and heal it, to find somebody with a problem and offer to help solve it.
Obedience brings success; exact obedience brings miracles.
Subscribe for the occasional hand-picked quote. No noise.